CEO, TKMS AG & Co. KGaA Oliver Burkhard and CEO Thyssenkrupp AG Miguel Lopez pose with the bull in front of the stock exchange in Frankfurt, Germany, October 20, 2025. TKMS, which builds submarines and frigates and develops mine-sweeping sonar technology, will be spun-off from parent Thyssenkrupp and separately listed on the Frankfurt stock exchange. REUTERS/Tilman Blasshofer